The shares of Coal India tumbled more than 6% on Wednesday after the company fixed the floor price for its Rs 5,000 crore offer for sale (OFS) at a 10% discount to the previous closing price, with analysts suggesting technical levels for investors to watch out for.

The shares of the company dropped to Rs 428.40 apiece in the morning trading hours of Wednesday. If the stock manages to hold these losses till the end of the session, then this would mark the sharpest single-day fall since June 2024.

Coal India on Tuesday announced that the government will sell 6.16 crore equity shares, representing 1% of its total paid-up equity capital, as the base offer size. The government also retains an oversubscription option to sell an additional 6.16 crore shares, taking the total potential offer size to 12.32 crore shares or 2% equity. At the floor price of Rs 412 per share, this would be worth more than Rs 5,000 crore.

Also read | Govt to offload up to 2% stake in Coal India via OFS on May 27-29; floor price at Rs 412/shareThe offer opened for non-retail investors on May 27, while retail investors, eligible employees and non-retail investors carrying forward unallotted bids can participate on May 29, after the market holiday on May 28.

Technical levels for Coal India share price

Coal India’s near-term chart has turned cautious, but it is not structurally broken, said Harshal Dasani, Business Head at INVasset PMS. He explained that the stock is reacting to a clear supply event – the government’s OFS, with the floor price set at Rs 412, at a 10% discount to the previous closing level. “That has shifted the price action from a steady uptrend into a support test,” he said.

For investors, the first important price band to watch now is around Rs 428 to Rs 430, according to Dasani. “If the stock absorbs supply there and closes above it, the chart can still form a higher base rather than slipping into a deeper correction,” he said.
However, a close below Rs 428 would weaken the setup and bring the OFS floor near Rs 412 into focus as the next reference point, he added. On the upside, the analyst sees the stock finding immediate resistance around Rs 455 and then at Rs 460, because that is where the stock broke down from after the supply announcement. The broader trend would need a reclaim of that band before momentum improves again, he said, adding that the 52-week high near Rs 491 remains the larger resistance marker.
“For now, Coal India remains a dividend-led, value-heavy chart facing a temporary supply overhang. The next signal is not the bounce itself, but whether the market absorbs the extra supply without significant damage to volume,” the analyst concluded.

Coal India share price

Coal India shares have fallen around 5% in one week and more than 3% in one month. Overall, the share price of the miner has gained more than 9% so far in 2026.
In the longer term, the company’s stock gained over 9% in one year, 81% in three years and 202% in five years. The company has a market capitalisation of nearly Rs 2.7 lakh crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

NEW YORK — AppLovin Corporation shares surged more than 12 percent on Wednesday, climbing $62.17 to $576.41 in midday trading after the mobile technology company reported robust first-quarter results and raised its full-year guidance, highlighting continued strength in its AI-powered advertising platform and gaming business.

The significant gain reflected investor enthusiasm for AppLovin’s ability to deliver consistent growth in a competitive digital advertising market. The company has emerged as one of the standout performers in the technology sector in 2026, benefiting from increased demand for sophisticated ad optimization tools and successful titles in its gaming portfolio.

AppLovin reported first-quarter revenue of $1.28 billion, representing 38 percent year-over-year growth, exceeding Wall Street expectations. Adjusted EBITDA reached $518 million, up 52 percent from the prior year. The company also raised its full-year revenue guidance to between $5.1 billion and $5.3 billion, signaling confidence in sustained momentum.

Strong Performance Across Business Segments

AppLovin operates two main segments: Software Platform, which includes its AI-driven AXON 2.0 advertising technology, and Apps/Games. The Software Platform segment showed particularly robust growth, with revenue increasing 45 percent as more advertisers adopted its machine learning tools for campaign optimization and user acquisition.

The company’s gaming business also contributed meaningfully, with several titles achieving strong monetization through in-app purchases and advertising. AppLovin has successfully transitioned from a primarily gaming-focused company to a diversified mobile technology platform, reducing its reliance on individual game performance.

CEO Adam Foroughi attributed the results to the effectiveness of AXON 2.0, which uses advanced AI to improve return on ad spend for developers and marketers. The technology has helped the company capture market share in a fragmented mobile advertising industry increasingly dominated by data-driven solutions.

Market Reaction and Analyst Upgrades

The double-digit share price increase pushed AppLovin’s market capitalization higher, reflecting renewed institutional interest. Several analysts raised price targets following the earnings release, with some forecasting $600 to $650 per share over the next 12 months. Consensus ratings remain strongly bullish, with most firms citing AppLovin’s technological edge and scalable business model.

The stock’s performance stands out even within the strong technology sector, where many companies have faced pressure from economic uncertainty and fluctuating ad spending. AppLovin’s ability to deliver both top-line growth and margin expansion has differentiated it from peers.

Industry Context and Competitive Position

AppLovin operates at the intersection of mobile gaming and digital advertising, two sectors undergoing rapid transformation through artificial intelligence. The company’s focus on AI for ad targeting and creative optimization positions it well as brands seek higher efficiency amid rising customer acquisition costs.

Major competitors include Unity Software, IronSource (now part of Unity), and larger players like Meta Platforms and Google. However, AppLovin has carved out a specialized niche by combining proprietary technology with a portfolio of owned games that serve as both revenue generators and testing grounds for new advertising tools.

Global mobile advertising spending continues to grow steadily, driven by increased smartphone penetration in emerging markets and higher engagement with gaming and social applications. AppLovin’s international expansion, particularly in Asia and Latin America, has contributed to its recent success.

Strategic Initiatives and Future Outlook

Management highlighted several growth initiatives during its earnings call. These include further investment in AI capabilities, potential strategic acquisitions in complementary technologies, and continued development of high-quality gaming content. The company also maintains a disciplined approach to capital allocation, with share repurchases forming part of its strategy.

For the remainder of 2026, AppLovin expects continued strength in its Software Platform business while stabilizing its Apps/Games segment through selective releases and portfolio optimization. Analysts project mid-30 percent revenue growth for the full year, with expanding margins as AI efficiencies scale.

Risks and Considerations for Investors

Despite the positive momentum, potential risks remain. The mobile advertising market remains subject to regulatory scrutiny, particularly around privacy policies and data usage. Changes in platform policies by Apple or Google could impact user acquisition costs and advertising effectiveness.

Economic slowdowns could reduce advertiser budgets, while competition in the gaming space remains intense. Geopolitical factors and supply chain issues in semiconductor manufacturing could indirectly affect the broader mobile ecosystem.

Valuation represents another consideration. After significant gains in recent years, AppLovin trades at premium multiples compared to traditional software companies. Investors will need to monitor whether the company can sustain its growth trajectory to justify current pricing.

Broader Market Implications

AppLovin’s performance contributes to positive sentiment in the software and digital advertising sectors. Its success demonstrates how specialized AI applications can drive meaningful returns in competitive markets. The company’s story also illustrates the ongoing convergence between gaming and advertising technologies.

As artificial intelligence becomes more embedded in digital marketing tools, companies like AppLovin are well-positioned to benefit. Wednesday’s sharp rally suggests investors are increasingly confident in the company’s ability to navigate industry challenges while capitalizing on structural growth opportunities.

Looking ahead, AppLovin will likely remain in focus as it reports quarterly results and provides updates on its AI roadmap. For investors considering exposure to the mobile technology space, the company represents a high-growth option with proven execution capabilities in a rapidly evolving industry.

The substantial share price movement on Wednesday underscores the market’s appetite for companies demonstrating clear technological differentiation and consistent financial delivery. As AppLovin continues refining its AI capabilities and expanding its platform, it is positioned to play an increasingly important role in the future of mobile advertising and gaming.

‘I said in January that I expected a busy first full year as CEO and that has certainly been the case so far’

A North East wealth manager expects to have acquired more than 20 companies into the group by the end of the year, as a result of its established buy-out model.

Directors at Sunderland-based Fairstone Group have hailed a busy year in which it added “substantially” to the business, acquiring eight companies in Northern Scotland, Northern Ireland, the South of England, the West Country, the East Midlands and the North East. It said the acquisitions expand and strengthen its geographic footprint across the UK.

The transactions included Fairstone’s largest purchase to date, the acquisition of West Midlands wealth management and corporate financial planning specialist Prosperity Wealth in February.

All eight firms acquired in the first quarter came into Fairstone, based in Doxford International Business Park in Sunderland, via the Downstream Buy-Out (DBO) model. They have collectively pumped more than £2bn of client assets under management into the group.

And directors revealed 13 more full acquisitions will be made later this year. Fairstone’s DBO model sees the business act as an investment partner, providing the centralised resource, technology, and capital to support the ongoing growth of ambitious financial firms ahead of a future sale. Once fully integrated, partner firms are then able to sell to Fairstone.

Fairstone CEO Steven Cooper said: “I said in January that I expected a busy first full year as CEO and that has certainly been the case so far. In just the first quarter of the year, we have added substantially to the business, not only in terms of the bare figures of client assets under management, but also in terms of our strategic presence and the depth and breadth of the services which we can offer our clients.

“For example, bringing Prosperity on board has added substantially to our expertise in areas such as corporate financial planning and employee benefits. These are things which not only benefit those clients who Prosperity have brought with them to Fairstone, but also to our existing and future clients right across the country.

“Every one of the eight firms who became part of Fairstone during Q1 brings something new to the business and strengthens the group as we look to help many more people achieve their financial goals and face the future with confidence.”

The eight firms acquired so far this year initially joined the DBO programme between two and four years ago, enabling staff and processes to become fully integrated into Fairstone before becoming part of the group.

Fairstone now operates from more than 50 locations, employing over 1,350 operational staff and regulated advisers. It oversees £23bn in assets under management on behalf of over 125,000 clients.

Like this story? For more deals news you can visit our dedicated page for the latest news and analysis here.

NEW YORK — Alphabet Inc. Class C shares advanced 0.62 percent to $387.22 in morning trading on Wednesday, extending recent gains as investors continued to reward the Google parent’s strong positioning in artificial intelligence and robust cloud performance following its impressive first-quarter results.

The modest uptick reflected ongoing positive sentiment around Alphabet’s AI investments, accelerating Google Cloud growth and resilient advertising revenue. The stock has shown notable strength in 2026, with analysts highlighting its full-stack AI approach and expanding enterprise opportunities as key drivers.

Alphabet’s market capitalization remains near record levels, approaching or surpassing major milestones amid broader enthusiasm for technology companies demonstrating clear AI monetization paths. Wednesday’s trading occurred against a backdrop of steady broader market gains, with technology shares generally favored on continued innovation narratives.

Strong Q1 2026 Performance Sets Positive Tone

The company reported first-quarter revenue of $109.9 billion, up 22 percent year-over-year, beating expectations and marking the 11th consecutive quarter of double-digit growth. Google Cloud revenue surged 63 percent to $20 billion, driven by enterprise AI solutions and infrastructure demand.

Google Services revenue increased 16 percent to $89.6 billion, supported by 19 percent growth in Search and strong performance in subscriptions. Operating income rose 30 percent with margin expansion to 36.1 percent, while net income jumped 81 percent to $62.6 billion. Earnings per share reached $5.11.

CEO Sundar Pichai described the quarter as a “terrific start,” noting AI experiences driving record query volumes in Search and significant backlog growth in Cloud. Paid subscriptions reached 350 million, with Gemini Enterprise users growing 40 percent quarter-over-quarter.

AI and Cloud as Core Growth Engines

Alphabet has aggressively invested in AI infrastructure and models, particularly through Gemini. The company’s full-stack approach — combining first-party models, cloud infrastructure and consumer applications — has differentiated it in a competitive landscape. Google Cloud Platform backlog nearly doubled to over $460 billion.

Recent developments, including expanded partnerships and infrastructure commitments, have reinforced investor optimism. Reports of substantial cloud commitments from major AI players have supported share price momentum.

The company continues heavy capital expenditures to build AI-optimized data centers, with 2026 guidance reflecting significant investment. While elevated spending has raised margin concerns in the past, strong revenue conversion has helped alleviate those worries.

Analyst Optimism and Valuation

Wall Street has responded favorably to Alphabet’s execution. Multiple firms have raised price targets in recent weeks, with some forecasting $425 to $445 per share. Consensus leans toward Buy ratings, citing AI leadership, advertising resilience and cloud acceleration.

The stock’s valuation reflects its growth profile, though some analysts argue it remains attractive relative to long-term AI opportunities. Year-to-date performance in 2026 has outpaced several Magnificent Seven peers, underscoring Alphabet’s comeback narrative.

Regulatory and Competitive Landscape

Alphabet continues navigating regulatory challenges, including antitrust matters. Recent court decisions have provided some relief, with rulings against more severe remedies supporting investor sentiment. The company maintains strong legal defenses while advancing product innovation.

Competition in AI remains intense, with rivals investing heavily in models and infrastructure. Alphabet’s integration of Gemini across Search, Cloud and consumer apps has helped maintain relevance and drive usage growth. Waymo’s autonomous driving progress, surpassing 500,000 weekly rides, adds another growth vector.

Broader Market Context

Technology shares have benefited from sustained AI enthusiasm and expectations of stable monetary policy. Alphabet’s performance contributes to sector strength, with its advertising and cloud businesses providing diversified exposure compared to pure-play AI hardware companies.

Global economic conditions, consumer spending trends and geopolitical factors remain watchpoints. However, Alphabet’s diversified revenue streams — spanning digital ads, cloud, subscriptions and emerging technologies — provide relative stability.

Outlook and Strategic Priorities

Management has expressed confidence in sustained momentum. Key focus areas include further AI integration, cloud market share gains and international expansion. The dividend increase to $0.22 per share underscores commitment to shareholder returns.

As the year progresses, investors will monitor Q2 results for continued cloud acceleration and AI monetization evidence. Capital expenditure levels and margin trends will remain closely watched amid heavy AI infrastructure spending.

Alphabet’s ability to balance innovation investment with profitability has been a strength. The company’s vast data resources, distribution reach and engineering talent position it favorably for long-term AI leadership.

Wednesday’s trading continues a pattern of measured gains supported by fundamental progress. As one of the world’s most valuable companies, Alphabet remains central to technology sector performance and broader market sentiment. Its ongoing transformation into an AI powerhouse will likely shape its trajectory through the remainder of 2026 and beyond.

Shares of Jaiprakash Power Ventures (JP Power) rallied as much as 20% to their day’s high of Rs 22.95 on the NSE on Wednesday to extend gains for a fifth consecutive session and rally over 25% during the same period.

Volumes were high in today’s session as more than 87 crore shares worth Rs 1,904 crore changed hands, stock exchange data showed.

Last week, Adani Power said it has signed definitive agreements with Jaiprakash Associates Limited (JAL) to acquire a 24% stake in Jaiprakash Power Ventures Limited (JPVL) along with the 180 MW Churk thermal power plant in Uttar Pradesh under the NCLT-approved resolution plan for JAL.

The company said it has entered into a Share Purchase Agreement to acquire JAL’s 24% stake in JPVL for nearly Rs 2,993.6 crore. In addition, it has signed a Business Transfer Agreement to acquire the Churk thermal power plant and associated assets, including JAL’s 11.49% stake in Prayagraj Power Generation Company Limited, for Rs 1,200 crore.

According to Adani Power, the acquisitions will strengthen its generation portfolio and expand its footprint in the thermal power sector, while also providing strategic exposure to JPVL’s diversified energy and mining businesses. The transaction is part of the broader Adani Group-led resolution plan for debt-laden JAL and is aligned with Adani Power’s core power generation business.

Adani Power said the acquisitions will be completed through cash consideration and are expected to close on the “Effective Date” under the approved resolution plan, which is scheduled to occur within 90 days from the NCLT approval granted on March 17, 2026.
The development comes at a time when power stocks have staged a strong rally. India is currently reeling under heatwave conditions amid the exceptionally strong El Niño year. In this background, power demand soared, boosting the power stocks. Adani Power shares were no exception. The stock jumped around 3% on Wednesday to hit a fresh 52-week high of Rs 252 apiece on NSE. The stock surged over 13% in one week and delivered 126% returns over one year.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)